Good payroll management is key to the running of a business. Fortunately, this is a relatively simple matter now that we have software packages able to calculate tax, National Insurance contributions, and other deductions that need to be taken off an employee’s payslip.
However, it is still essential that you understand the basic concepts underlying these calculations. In this course, you will learn the differences between net and gross pay.
You will learn:
- What is meant by the term “gross pay” and how it is calculated
- What is meant by the term “net pay” and how it is calculated
- The most common types of deductions displayed on a payslip
- Why a high-quality payroll package is an essential business tool
- When you should consider manually checking your payroll figures
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Course content
4 modules · 0.75 hours of learning
- Module 01: Introduction (includes quiz)
- Module 01: Introduction (video)
- Module 02: How to Calculate Gross and Net Pay within Your payroll System (includes quiz)
- Module 02: How to Calculate Gross and Net Pay within Your payroll System (video)
- Module 03: Why High Quality Payroll Software is so Important for an Accurate and Smooth Running Payroll System (includes quiz)
- Module 03: Why High Quality Payroll Software is so Important for an Accurate and Smooth Running Payroll System (video)
- Module 04: Should You Manually Check Your Payroll Figures? (includes quiz)
- Module 04: Should You Manually Check Your Payroll Figures? (video)
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